Bearer Paper

Bearer Paper — «ценная бумага на предъявителя» — is a generic term for a wide range of negotiable instruments payable to whoever has possession. In this respect bearer instruments differ from conventional securities: no records are kept of who owns the underlying asset or of the transactions involving transfer of ownership. Whoever physically holds the papers owns the assets. This is useful for investors and corporate officers who wish to retain anonymity but ownership can be difficult to recover in event of loss or theft.

Russian law is cautious about bearer papers: they are, generally speaking, allowed but certain kinds of bearer instruments are prohibited (article 145 of the RF Civil Code).